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Date: 9 months ago   Category: Life Style

Michael Kors buys Versace and changes a name


The cost of the transaction — 2,2 billion dollars. Michael Kors Holdings will begin to be called as Capri Holdings Limited — in honor of the Italian island of Capri. Members of the family of Versace will keep the posts. What will be farther with the well-known brand? Advertizing of Versace on a cathedral in Milan. Photo: Michael Kors for 2,2 billion dollars buys by Stefano Rellandini/Reuters Gianni Versace SpA and changes a name, Bloomberg reports. The Michael Kors Holdings company will be called Capri Holdings Limited — in honor of the Italian island of Capri. Members of the family of Versace will keep the posts in fashion house and also will receive shares of the united company for 150 million euros. Why it is sold to Versace and that will be with fashion house further, professor of fashion of the Milan university Lyubov Popova:lyubov Popova professor of fashion of the Milan university "Argues or you are capable to stand on the legs and you have the corresponding capital to stand on the global market, or it is better to transfer it to hands of that who has a bigger capital that the brand continued to exist in the global market. It isn't a guarantee that the style and success of brand will proceed at all the same as it was before. Frankly speaking, I can't imagine what will be with Versace in other hands. I speak not about business. Business, perhaps, will successfully continue, but, as for style, I don't know that as far as this style future will really reflect philosophy of vision of Gianni Versace in the global market. It is difficult to foretell it because every time as passes property from one hands into others, there are surprises. For example, attempt to revive a brand luxury, well-known, historical — Skiaparelli. One by one change designers and property, but as a result of nothing characteristic, sharp from this leaves". Last year Michael Kors has got the producer of the Jimmy Choo footwear. Most likely, the designer seeks to build the American multibrand empire of fashion by an example of the Parisian conglomerates LVMH (he includes, in particular, Louis Vuitton, Givenchy, Guerlain, Moyot & Chandon, Hennessy) or Kering SA, the asset manager of the International fund of private investments Alexander Dushkin:aleksandr Dushkin the asset manager of the International fund of private investments "Considers change of the name just reflects the strategy of holding. A year ago it was unevident that Michael Kors is going to work, including getting other well-known trademarks. But they have made some absorption and have bought Jimmy Choo for 1,3 billion dollars. All has also begun with it. That is they try to turn into the company, into fashion house, maybe, as Louis Vuitton or Kering which possess the brands Gucci, Alexander McQueen, Bottega Veneta, Stella McCartney, Yves Saint Laurent. Generally, I think, they just turn into the same holding as LVMH or Kering, in it everything has put. That is they try to become very large company and therefore change a name according to it". The Versace fashion house has been founded in 1978 in Italy by the fashion designer Gianni Versace. Diza

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